How to start trading on the cryptocurrency exchange? It would seem a fairly simple issue. Allocate some funds and start trading – that’s it! Along the way, however, there are many traps that can effectively discourage you from entering this world deeper.
Trading – how to start? Slowly because it is difficult
Anyone who wants to start trading on the cryptocurrency exchange must first understand the rules that guide the market and how cryptocurrency exchanges work. Unfortunately, the latter usually make you dizzy. In order to successfully engage in trading, you need not only to know the financial mechanisms, but also to understand advanced stock exchange interfaces. In addition to how the stock charts work and what types of orders are offered on the platform, it is also good to know what an orderbook is, for example.
Breaking through the technical layer can be particularly difficult. However, even when we understand the assumptions behind the visual representation of the course and orders, there is still the topic of investment tools offered on many platforms. Contemporary large stock exchanges are overwhelming us with a huge amount of investment opportunities. We can trade on spot exchanges, we can take long and short positions as well as use leverage trading. Unfortunately, in most cases, exchanges do not provide us with enough tools to fully explain the complex content of their platforms, and the view of the interface for a person who is just starting their adventure with trading can be terrifying.
Simple interface – easy learning
As you can see in the photo above, exchange interfaces can be very complicated. Therefore, it is worth considering the choice of a platform that will not only provide us with safe tools, but also interfaces that will allow us to smoothly enter the topic of trading. It is worth paying attention to specialized platforms. A good example is here Geco.one – Polish platform focusing on margin trading. Geco.one allows you to trade your Margin with a leverage of 100: 1 for every available pair. What is important for novice investors – the stock exchange does not have an orderbook. Instead, it uses an external liquidity provider. Thanks to this, the investor can focus mainly on the assessment of the line chart (no orderbook = no candles).
More importantly. At the same time, the simplified chart is surrounded by minimalistic and easy-to-use panels and windows for filling orders. Geco.one also allows you to customize the window view and save the layout that suits you. Thanks to this, for each currency pair we can save the view that will be the most convenient for us.
These tweaks help in trading for beginners. Remember, however, that becoming a seasoned trader requires a lot of training and learning.